-------------------- Do you know what "nemesis" means? A righteous infliction of retribution manifested by an appropriate agent. Personified in this case by an 'orrible 'unt... me. -Brick Top
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still learning how to read the charts, but from all the news QuestSolver posted yesterday and the news today I think this is a good long term stock to sit on. Of course unless anything different starts happening in the oil/gas industry which I doubt so far.
-------------------- In AMEP 35,000 * average .041 In AMNI 16,000 * .011
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Quest Solver do you see this as a possible long termer as well? if so what price can you see this going to within the next few months??
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damoc I see mid term at .50 or higher,watch the numbers in the next 10-q or just use the production numbers in the recent 10-q and use todays figures and you will see why I aim high here.
any one who may have a weak stomach...today may get more radical then most of you have ever seen,they may try and swing this all over imo to try and shake out any weak hands and it can get ugly. One case in particular was when I played MXR a few years ago,the MM's dropped it from .19 to the single digits of .03's in less then an hour!!! Everyone freaked out and could not sell quick enough....a couple of hours later (just before lunch if I remember correctly) it broke thru .26....I tell ya...many went into cardiac arrest that day!LOL They changed to RCO and I don't know what they are doing now.More recently this last fall I watched MBAH drop from .09 to .012's in less then two trading sessions only to recover and run to .42ish that week,I won't touch that one now for management reasons.What I am trying to say is if your going to watch today have Rolaids ready and on stand by...but who knows....it could simply be civil and climb like a good little stocky....LOL
we'll seen soon eh? the reason we may get some major swings today is that we have a couple of things working against us that could cause swings and the MM's will use them to their favor.
1) Its Friday,most DT's (day traders) take cash exits usually before 3pm
2)Its a 3 day weekend with a Market open on Tuesday,this causes some normal investor/traders to exit for cash who would not sell on an ordinary weekend.
In our favor....
1) we are in the best sector hands down.
2) anywhere at these levels is a good entry price.
3) The price of Oil/gasoline and natural gas will continue to go up especially on a holiday weekend
4)we are on the best piece of real estate in the country right now.
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and the swing is underway!!watch for .027's for the freak out moment! it won't last long imo,the market monkeys need to rattle the cages to maybe shake out the DT's early!
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yep... definently going to have to distract myself with as much work today as possible.. price is dropping fairly fast.. hope it rebounds before the weekend hits
-------------------- In AMEP 35,000 * average .041 In AMNI 16,000 * .011
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If I knew this was coming I would've waited instead of entering the bulk of my money at .0305 this morning and got in about now . I am sure either way I will be in the green in the coming weeks.
-------------------- In AMEP 35,000 * average .041 In AMNI 16,000 * .011
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Kalorian...you'll be in the green today imo.As I said early have your Rolaids handy today,the MM's will shake hard to get shares and try to move the DT's out early!
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Well I sure hope so, the price is lower than what I started watching this stock at . I have faith in it going back up though. For the most part anything with a solid background in this industry has to be a good buy especially this low.
-------------------- In AMEP 35,000 * average .041 In AMNI 16,000 * .011
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By: 1greeneyedhawk 02 Sep 2005, 02:20 PM EDT Msg. 24333 of 24345 Jump to msg. # I don't post while I'm in the market. I will post a DD series over the long weekend. I still have every share accumulated over the last year and a half. I think some have already forgot that yesterday's news entirely changes the dynamics for AMEP. They now have a Big Rig to develop the 7,000 acres of a 100% blanket formation of the Barnett, +300' thick. How many high production Gas and Oil well can you drill on 7,000 acres. My guess is 80 acres per well, some say 40, 160 would still be great. Do the math: #wells X NG X Oil the Market Cap and resulting SP is tiny. It is still early on the SP. GL all longs. ... %^ greeneyedhawk Remember this from yesterday, ...it changes everything:
American Energy Production, Inc., Announces Purchase of Oil Drilling Rig by Investee Thursday September 1, 9:00 am ET
MINERAL WELLS, Texas--(BUSINESS WIRE)--Sept. 1, 2005--American Energy Production, Inc., (OTCBB:AMEP - News) announced today that AMEP Strategic Investments, Inc., an investee, has purchased an 8,000 foot capacity Ideco drilling rig from Aramdrill in Mexico. This acquisition allows American Energy Production, Inc., and its' investees, Bend Arch Petroleum and Oil America Group, Inc., to redefine their long range exploration and development strategy for the 7,000 acres of Barnett Shale prospects currently owned by Bend Arch Petroleum, Inc.
Charles Bitters, President of American Energy Production, Inc., said, "The Company is very excited about the acquisition of the Ideco Drilling Rig. To locate a rig of this type in the current demand driven environment is a small miracle. There just are not any rigs of this quality for sale. Because of the recent record prices for crude oil and natural gas, it is almost impossible to schedule a rig. The current rig availability is at best six months and more often than not, one year. This is the perfect drilling rig for the productions horizons the Company is interested in exploiting.
"The Barnett Shale was the largest natural gas producing field in the United States last year and is currently one of the hottest energy plays in the world, attracting such companies as XTO, Devon and Quicksilver. This rig has the capacity to drill horizontal Barnett Shale wells with lateral sections of up to 3,000 feet. Bend Arch Petroleum can re-enter several Barnett Shale and Marble Falls prospects while Oil America Group is selling limited partnership drilling programs in the Barnett Shale. Now there will not be any delay while waiting for other drilling rig contractors."
This drilling rig will become another significant profit center for the AMEP companies. Rigs with a drilling capacity of 8,000 feet are currently netting $10,000.00 per day. If this drilling rig operates approximately 200 days per year the gross income would be $2,000,000.00 per year. Bend Arch Petroleum, Inc., and Oil America Group should be able to participate in an additional twenty (20) oil and gas wells in the next year because of the availability of this drilling rig. Twenty new oil or gas wells producing the equivalent of only 20 barrels of oil per day would generate a gross income of approximately $6,000,000.00 per year.
Initial inquiries for the Oil America Group Limited Drilling Partnership have been overwhelming. Joe Christopher and his corporate counsel have submitted the documents for final approval. They should begin taking partnership subscriptions in early September. Potential investors will be notified when the program receives final approval.
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DEDHAM, Mass.--(BUSINESS WIRE)--Sept. 2, 2005--As ARC Advisory Group has already seen from the significant price increases at the pump, Hurricane Katrina is going to have a significant and lasting impact on the US oil and gas industry. The Gulf Coast area is the hub of American refining and petrochemicals. Currently in the Gulf Area there are nine refineries shut down, with a total capacity of about 1.8 million barrels per day (BPD) of crude. This represents about 11 percent of total US refining capacity. Aside from refineries, midstream facilities (primarily pipelines) are also affected for both crude and finished products. Other refineries are reducing crude runs because of pipeline outages on both the crude or finished product side. These additional refineries include 4 or 5 fair sized Midwest refineries.
It will be difficult for US refiners to make up lost production, because they have been running at close to absolute maximum capacity rates for some time. Year-too-date capacity utilization rates for refineries has been over 93%, and the higher demand and summer production rates have resulted in refineries running more in the area of 97 to 98 percent.
The US imports considerable finished products, such as gasoline, as well as. Should US refining capacity face a prolonged reduction, increasing these imports of finished products is an option, but even this will be subject to possible limitations from the pipeline outages. Releasing the Strategic Reserve, which has already been put into motion, will aid refineries that would have to reduce throughput because of a crude shortage, but would not help those refineries that face product pipeline outages. So far, three refiners have requested access to the strategic reserve. It should also be noted that the EU has offered to release oil from the strategic reserves of member nations.
Gulf of Mexico (GOM) Statistics in the Wake of Hurricane Katrina
GOM Crude Production (1,000 b/d) 1,527 GOM Crude Production Shutdown (8/31/05) 1,451 GOM Crude Production Shutdown (% of US Crude Production) 27% Capacity of Gulf Refineries Shutdown (1,000 b/d) 1,800 Capacity of Gulf Refineries Shutdown (% of US Refinery Runs) 11.3% US Crude Inventories (1,000 b) 195,000 US Gasoline Inventories (1,000 b) 380,000 Number of Days Gasoline Supply from Existing Inventories 40.1 Number of Days Crude Supply from Existing Inventories 12.6
(C) 2005 ARC Advisory Group
Crude Production Impact
About 28 percent of the US crude production comes from the Gulf of Mexico basin (GOM), and almost 95% of that production was shutdown because of the hurricane. These facilities are being ramped up slowly, and many companies are still surveying the damage that has been done, but many of the early reports from offshore production platforms are better than expected. Some exploration rigs were damaged or broke free from their moorings during the storm, but no production rigs have been reported missing or repositioned. It will probably be at least a week before the real damage is assessed.
Even without the impact of Katrina, the US petroleum market is engaged in a trend that is seeing gasoline demand increasing about 5% over last year but a decreasing supply of crude from domestic sources. We face a similar net shortage in the natural gas market as well.
posted
Not sure if this is helpful but pulled it off CNN Business,
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Experts: $4 a gallon gas coming soon Pricing analysts say consumers can expect even higher prices at the pump. August 31, 2005: 4:11 PM EDT By Grace Wong, CNN/Money staff writer
NEW YORK (CNN/Money) - Consumers can expect retail gas prices to rise to $4 a gallon soon, but whether they stay there depends on the long-term damage to oil facilities from Hurricane Katrina, oil and gas analysts said Wednesday.
posted
the market makers are clearly hold not only AMEP down but virtually all the oil and gas stocks!!!! The only logic for that is they know whats coming soon!!!The trading pattern has been disrupted and shows pure signs of manipulation.
not sure at the moment but I believe all gas pumps are going to be shut off for 2 days...waiting for confirmation now.
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BOUGHT A SMALL AMOUNT AT .0305 BUT GOT OUT WHEN IT HIT .029![[Big Grin]](biggrin.gif)
